Bangkok--1 Dec--KBank
K-Credit Cards Offer Numerous Promotions during Yearend Festive Season4Q16 Card Spending Likely Reach Almost THB100 Billion, up 7%
KBank recently launched a "One Card for Everyday Spending" program for K-Credit Cards in a bid to bolster spending during the yearend holiday spending season and tax-deductible investments. Numerous promotions are offered nationwide for spending via K-Credit Cards, which is projected to reach THB97 billion, up 7 percent YoY.
Ms. Noppawan Jermhansa, KBank Executive Vice President, stated that Thai consumers typically spend more towards the yearend on merchandise, services and travel because of many long public holidays and notable festivities like Christmas and the New Year. As a result, overall spending normally increases during the festive season.
To help invigorate domestic spending, KBank is now running marketing activities that maximize privileges for our K-Credit Cardholders upon spending on travel, shopping and dining. Card spending on these categories grew 20 percent in 2015.
Other promotions offered by K-Credit Cards during the festive season include "Two Tickets for the Price of One" when purchasing a business class air ticket from Qatar Airways to any of its 38 destinations in Europe, America and Africa, as well as "Celebration Around the World" that offers a cashback rebate of up to THB15,000 when using K-Credit Card on spending in foreign currencies. Moreover, the first 100 holders of KBANK MasterCard Credit Card with the highest foreign currency spending between November 15, 2016 and January 31, 2017, will receive a free GoPro Hero 5-Black camera.
K-Credit Cardholders who purchase THAI air tickets via Thaiairways.com will get a 13 percent cashback rebate. Those buying duty-free merchandise aboard THAI flights will also earn a 12 percent cashback rebate. Up to 15 percent cashback rebate is offered on the purchase of an Air Asia X air ticket via K-Credit Card. When shopping for duty-free merchandises aboard AirAsia and Thai AirAsia X flights, K-Credit Cardholders will also get up to 12 percent cashback, and will also be eligible for other promotions when shopping and dining at leading shopping/community malls, as well as on purchasing gift baskets.
As of September 2016, credit cards issued by KBank totaled of 3.68 million. Their total spending reached THB253 billion, increasing 7 percent YoY, largely on shopping, dining, travel, motor fuels, healthcare and other medical services. It is expected that the total spending will reach THB350 billion by the 2016 yearend.
KBank projects that the total K-Credit Card spending during 4Q16 will reach THB97 billion, increasing 7 percent YoY. Of that, 25 percent will likely be on shopping, dining, travel, 9 percent on LTFs/RMFs and 66 percent on other items, added Ms. Noppawan.